Salesforce Inc. $CRM Shares Sold by John G Ullman & Associates Inc.

Key Points

• John G Ullman & Associates cut its Salesforce stake by 30.1% in the first quarter, selling 3,567 shares and ending with 8,283 shares valued at about $1.546 million.
• Other institutional investors were mixed on CRM, with several firms increasing their holdings, while overall institutional ownership remains high at 80.43%.
• Salesforce posted better-than-expected quarterly results, with EPS of $3.88 versus $3.13 expected and revenue of $11.13 billion, and analysts currently rate the stock a Moderate Buy with a consensus price target of $254.42.

John G Ullman & Associates Inc. lessened its position in Salesforce Inc. (NYSE:CRM - Free Report) by 30.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,283 shares of the CRM provider's stock after selling 3,567 shares during the period. John G Ullman & Associates Inc.'s holdings in Salesforce were worth $1,546,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kera Capital Partners Inc. grew its holdings in Salesforce by 12.8% during the first quarter. Kera Capital Partners Inc. now owns 2,408 shares of the CRM provider's stock worth $450,000 after acquiring an additional 273 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Salesforce by 12.9% during the 1st quarter. Gryphon Financial Partners LLC now owns 3,430 shares of the CRM provider's stock valued at $640,000 after purchasing an additional 392 shares in the last quarter. Assetmark Inc. grew its stake in shares of Salesforce by 4.5% in the 1st quarter. Assetmark Inc. now owns 141,158 shares of the CRM provider's stock worth $26,350,000 after purchasing an additional 6,076 shares during the last quarter. PeakShares LLC raised its holdings in shares of Salesforce by 45.8% in the 1st quarter. PeakShares LLC now owns 8,070 shares of the CRM provider's stock worth $1,506,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Graphene Investments SAS raised its holdings in shares of Salesforce by 29.9% in the 1st quarter. Graphene Investments SAS now owns 16,500 shares of the CRM provider's stock worth $3,080,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CRM shares. BMO Capital Markets dropped their price target on Salesforce from $225.00 to $215.00 and set an "outperform" rating on the stock in a report on Thursday, May 28th. Truist Financial cut Salesforce from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. Susquehanna began coverage on shares of Salesforce in a report on Wednesday, July 1st. They issued a "neutral" rating for the company. Citizens Jmp reissued a "market outperform" rating and issued a $315.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Finally, Roth Capital restated a "buy" rating and issued a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.42.

Salesforce Price Performance

Shares of CRM opened at $171.20 on Friday. The business's 50-day moving average is $170.64 and its 200-day moving average is $191.20. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $140.21 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 0.93 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $274.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. Salesforce's dividend payout ratio is 20.37%.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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